Shop before you take the first loan you're offeredDad knows that when it comes to money, you never take the first offer. If nothing else, you need to know whether you can cut a better deal.
For many buyers, shopping smart for a home means haggling over the home price and seller concessions. Some buyers miss the opportunity to shop for the best terms on the loan.
Buyers definitely need to loan-shop more.
It's always a good idea to make sure that you're checking a number of sources. The mistake people make today is they are busy, and may call one or two places on a referral.
It makes sense to talk to not only several lenders, but different types of lenders -- local lenders, national lenders and mortgage brokers (who will shop the loan to a number of sources).